Funding arb · Price arb /

BONK

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.076%

Price spread now: Orderly against Nado−0.104%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Orderly is 0.104% cheaper against Nado than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado kBONK-PERP	0.000003353	0.0100	pay 0.0012% / 1h	46m 57s	$19K	$107K	10x
Short	Orderly PERP_1000BONK_USDC	0.000003350	−0.0072	pay 0.0036% / 4h	1h 46m	$29K	$41K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Nado. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee NadobpFee OrderlybpOrdersPrice spread, now −0.104%Rate

Funding earned: −$36.05
Price spread: −0.104% → 0.000%: −$10.44
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$59.49
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 35 min ago; Orderly: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Nado live order book, 35 min ago	2.97 bp	18.4 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BONK on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit 1000BONK_USDC-PERPETUAL	−0.0347%	1h	0.000003348	−0.164%	$2K	$110K	10x	as long as short
Coinbase International 1000BONK-PERP-INTX	−0.0248%	1h	0.000003327	−0.790%	$42K	$22K	50x	as long as short
BloFin 1000BONK-USDT	−0.0140%	4h	0.000003348	−0.164%	$1.0M	$13.2M	75x	as long as short
Orderly PERP_1000BONK_USDCshort	−0.0072%	4h	0.000003350	−0.104%	$29K	$41K	20x
gTrade (Gains Network) BONK/USD	L 0.0000% / S +0.0001%	1h	0.000003349	−0.119%	$1K	—	150x	as long as short
dYdX BONK-USD	0.0000%	1h	0.000003357	+0.095%	$12K	$3K	10x	as long as short
Injective BONK/USDC PERP	+0.0033%	1h	0.000003274	−2.371%	$3K	$113	5.5x	as long as short
Reya kBONKRUSDPERP	+0.0083%	1h	0.000003351	−0.066%	$4	—	15x	as long as short
Lighter 1000BONK	+0.0096%	1h	0.000003351	−0.075%	$194K	$294K	10x	as long as short
Nado kBONK-PERPlong	+0.0100%	1h	0.000003353	long leg	$19K	$107K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster 1000BONKUSDT	+0.0100%	4h	0.000003350	−0.115%	$64K	$251K	10x	as long as short
Pacifica kBONK	+0.0100%	1h	0.000003356	+0.075%	$115K	$122K	10x	as long as short
Binance 1000BONKUSDT	+0.0100%	4h	0.000003350	−0.117%	$15.1M	$51.3M	75x	as long as short
Bybit 1000BONKUSDT	+0.0100%	4h	0.000003349	−0.134%	$10.2M	$16.6M	50x	as long as short
OKX BONK-USDT-SWAP	+0.0100%	8h	0.000003352	−0.045%	$2.4M	$7.6M	20x	as long as short
Gate BONK_USDT	+0.0100%	4h	0.000003349	−0.134%	$744K	$2.6M	50x	as long as short
MEXC 1000BONK_USDT	+0.0100%	4h	0.000003350	−0.104%	$10.1M	$6.4M	125x	as long as short
KuCoin 1000BONKUSDTM	+0.0100%	4h	0.000003350	−0.113%	$2.7M	$9.9M	75x	as long as short
Bitget 1000BONKUSDT	+0.0100%	4h	0.000003347	−0.194%	$4.2M	$3.1M	75x	as long as short
BingX 1000BONK-USDT	+0.0100%	4h	0.000003349	−0.134%	—	$8.0M	—	as long as short
Backpack kBONK_USDC_PERP	+0.0100%	1h	0.000003351	−0.075%	$30K	$7K	10x	as long as short
Variational Omni 1000BONK	+0.0100%	4h	0.000003345	−0.262%	$301K	$104K	—	as long as short
ApeX Omni 1000BONKUSDT	+0.0100%	1h	0.000003345	−0.253%	$57K	$698K	25x	as long as short
SunX BONK-USDT	+0.0100%	4h	0.000003354	+0.015%	$2K	$12K	20x	as long as short
SoDEX 1000BONK-USD	+0.0100%	1h	0.000003350	−0.104%	$2K	$6K	10x	as long as short
Extended 1000BONK-USD	+0.0104%	1h	0.000003349	−0.119%	$22K	$2K	25x	as long as short
Aevo 1000BONK-PERP	+0.0104%	1h	0.000003347	−0.194%	$4K	—	3x	as long as short
GMX BONK/USD [ETH-USDC]	L +0.0196% / S −0.4340%	1h	0.000003000	−10.541%	$560	—	100x	as long as short
HTX BONK-USDT	+0.0236%	4h	0.000003363	+0.283%	$87K	$144K	30x	as long as short
Hyperliquid kBONK	+0.0764%	1h	0.000003356	+0.075%	$9.9M	$7.3M	10x	as long as short
Kraken Futures PF_BONKUSD	+0.0965%	1h	0.000003355	+0.055%	$204K	$149K	50x	as long as short